Hi morguana,
It isn't exactly as you put it. When oil was discovered in the US back in the good old days and the Texans became rich, oil was indeed drilled for, and to some extent still is, however, the Americans decided to do something dastardly (as Dick Dastardly would do!). They dolarized international trade. What did this mean? Well it is far more easy to print US$ than to actually drill for oil, so they printed and gave the paper notes in exchange for oil that was taken from the ground in other countries. Remember in the 1970s' when the Arabs became millionaires over night?
The US has massive oil reserves in Alaska and off the south eastern coast, but is not wanting to drill for oil just yet. If it did, the price of oil would go down and make the venture more expensive as the US would have to invest in material and labour. So the US is waiting for the rest of the world to go dry and then command the worlds' oil market with its' 'strategic reserves' ie. off the coast of Cuba and Haiti and finally in Alaska.
There is an interesting article which goes into the matter much more at the following link:
http://www.thirdworldtraveler.com/Ir...r_vs_euro.html
Best regards,
Steve
Quote:
Originally Posted by morguana
i agree, however america (texas in particular) is running out hence why they big oil corporations are trying to get there greedy mitts on oil in other folks countries and places of beauty such as alaska.
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